Mobile app version of babycheers.com
Login or Join
newsMNC

: Rupee hits record low of 78.59 against US dollar in early trade #IndiaNEWS #Business Mumbai: The rupee depreciated 22 paise to a record low of 78.59 against the US dollar in opening trade Tuesday

@newsMNC

Posted in: #IndiaNEWS #Business

Rupee hits record low of 78.59 against US dollar in early trade #IndiaNEWS #Business
Mumbai: The rupee depreciated 22 paise to a record low of 78.59 against the US dollar in opening trade Tuesday as persistent foreign funds outflows weighed on investor sentiments.
At the interbank foreign exchange, the rupee opened on a weak note at 78.53 against the American dollar, then lost ground to quote at 78.59 its all-time low level, registering a fall of 22 paise from the last close.
On Monday, the rupee declined by 4 paise to close at its life-time low of 78.37 against the US dollar.
Persistent selling by FIIs in the domestic markets is also putting pressure on the rupee, said Rahul Kalantri, VP Commodities, Mehta Equities Ltd.
According to Kalantri, further economic sanctions on Russia may drive global energy prices higher and put pressure on emerging market currencies. We expect the rupee to remain volatile this week and could cross 78.55 levels, Kalantri said.
Global oil benchmark Brent crude futures rose 1.20 per cent to USD 116.47 per barrel.
Meanwhile, the dollar index, which gauges the greenbacks strength against a basket of six currencies, was trading 0.01 per cent lower at 103.92.
On the domestic equity market front, the 30-share Sensex was trading 314.88 points or 0.59 per cent lower at 52,846.40, while the broader NSE Nifty declined 101.75 points or 0.64 per cent to 15,730.30.
Foreign institutional investors were net sellers in the capital market Monday as they offloaded shares worth Rs 1,278.42 crore, as per stock exchange data.


Latest stock market news Twitter alternate of India

10% popularity Flash it Bury this

0 Reactions   React


Replies (0)

Login to follow story

More posts by @newsMNC

0 Comments

Sorted by latest first Latest Oldest Best

Back to top | Use Dark Theme